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SmartFinancial

Nasdaq:SMBK
Snowflake Description

Flawless balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SMBK
Nasdaq
$288M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

SmartFinancial, Inc. operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in Tennessee, Alabama, Florida, and Georgia. The last earnings update was 45 days ago. More info.


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SMBK Share Price and Events
7 Day Returns
-3.6%
NasdaqCM:SMBK
0.1%
US Banks
2%
US Market
1 Year Returns
-22.8%
NasdaqCM:SMBK
-7%
US Banks
4.3%
US Market
SMBK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
SmartFinancial (SMBK) -3.6% -3.6% 8% -22.8% 34.7% -
US Banks 0.1% 0.7% 5.8% -7% 51.5% 40.9%
US Market 2% 4.1% 4.2% 4.3% 43.9% 40.8%
1 Year Return vs Industry and Market
  • SMBK underperformed the Banks industry which returned -7% over the past year.
  • SMBK underperformed the Market in United States of America which returned 4.3% over the past year.
Price Volatility
SMBK
Industry
5yr Volatility vs Market

Value

 Is SmartFinancial undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of SmartFinancial to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for SmartFinancial.

NasdaqCM:SMBK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 6 analysts.
= Stable Book Value * Return on Equity
= $23.00 * 8.7%
$2.00
Book Value of Equity per Share Weighted future Book Value estimates from 6 analysts. $23.00
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:SMBK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.592 (1 + (1- 21%) (19.78%))
0.788
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NasdaqCM:SMBK using Excess Returns Model Model

The calculations below outline how an intrinsic value for SmartFinancial is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqCM:SMBK Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.7% – 7.5%) * $23.00)
$0.28
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.28 / (7.5% - 2.73%)
$5.84
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $23.00 + $5.84
$28.84
NasdaqCM:SMBK Discount to Share Price
Calculation Result
Value per share (USD) From above. $28.84
Current discount Discount to share price of $20.63
= -1 x ($20.63 - $28.84) / $28.84
28.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price SmartFinancial is available for.
Intrinsic value
28%
Share price is $20.63 vs Future cash flow value of $28.84
Current Discount Checks
For SmartFinancial to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • SmartFinancial's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • SmartFinancial's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for SmartFinancial's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are SmartFinancial's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:SMBK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.48
NasdaqCM:SMBK Share Price ** NasdaqCM (2019-06-24) in USD $20.63
United States of America Banks Industry PE Ratio Median Figure of 600 Publicly-Listed Banks Companies 12.7x
United States of America Market PE Ratio Median Figure of 3,095 Publicly-Listed Companies 17.88x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of SmartFinancial.

NasdaqCM:SMBK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:SMBK Share Price ÷ EPS (both in USD)

= 20.63 ÷ 1.48

13.92x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SmartFinancial is overvalued based on earnings compared to the US Banks industry average.
  • SmartFinancial is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does SmartFinancial's expected growth come at a high price?
Raw Data
NasdaqCM:SMBK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
22.8%per year
United States of America Banks Industry PEG Ratio Median Figure of 272 Publicly-Listed Banks Companies 1.36x
United States of America Market PEG Ratio Median Figure of 2,134 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

NasdaqCM:SMBK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.92x ÷ 22.8%

0.61x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SmartFinancial is good value based on expected growth next year.
Price based on value of assets
What value do investors place on SmartFinancial's assets?
Raw Data
NasdaqCM:SMBK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $20.82
NasdaqCM:SMBK Share Price * NasdaqCM (2019-06-24) in USD $20.63
United States of America Banks Industry PB Ratio Median Figure of 603 Publicly-Listed Banks Companies 1.19x
United States of America Market PB Ratio Median Figure of 5,255 Publicly-Listed Companies 1.8x
NasdaqCM:SMBK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:SMBK Share Price ÷ Book Value per Share (both in USD)

= 20.63 ÷ 20.82

0.99x

* Primary Listing of SmartFinancial.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SmartFinancial is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess SmartFinancial's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. SmartFinancial has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is SmartFinancial expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
22.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SmartFinancial expected to grow at an attractive rate?
  • SmartFinancial's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • SmartFinancial's earnings growth is expected to exceed the United States of America market average.
  • SmartFinancial's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:SMBK Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqCM:SMBK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 22.8%
NasdaqCM:SMBK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 17%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 3.9%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:SMBK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:SMBK Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 112 29 5
2019-12-31 94 24 4
NasdaqCM:SMBK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 85 26 19
2018-12-31 80 21 18
2018-09-30 75 11 12
2018-06-30 67 7 9
2018-03-31 57 1 7
2017-12-31 51 1 5
2017-09-30 45 5 6
2017-06-30 43 8 6
2017-03-31 42 10 5
2016-12-31 42 12 5
2016-09-30 41 12 5
2016-06-30 37 11 3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • SmartFinancial's earnings are expected to grow significantly at over 20% yearly.
  • SmartFinancial's revenue is expected to grow by 17% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:SMBK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from SmartFinancial Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:SMBK Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 1.86 2.18 1.74 6.00
2019-12-31 1.70 2.00 1.61 5.00
NasdaqCM:SMBK Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.48
2018-12-31 1.46
2018-09-30 1.00
2018-06-30 0.86
2018-03-31 0.71
2017-12-31 0.56
2017-09-30 0.82
2017-06-30 0.85
2017-03-31 0.81
2016-12-31 0.82
2016-09-30 0.78
2016-06-30 0.57

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if SmartFinancial will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess SmartFinancial's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
SmartFinancial has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has SmartFinancial performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare SmartFinancial's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • SmartFinancial has delivered over 20% year on year earnings growth in the past 5 years.
  • SmartFinancial's 1-year earnings growth exceeds its 5-year average (186.2% vs 59.1%)
  • SmartFinancial's earnings growth has exceeded the US Banks industry average in the past year (186.2% vs 40.7%).
Earnings and Revenue History
SmartFinancial's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from SmartFinancial Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:SMBK Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 84.61 19.42 44.79
2018-12-31 80.29 18.10 43.36
2018-09-30 74.94 11.71 41.19
2018-06-30 66.70 9.07 37.34
2018-03-31 57.40 6.79 33.33
2017-12-31 50.57 4.82 29.61
2017-09-30 44.73 6.16 27.27
2017-06-30 43.19 5.82 26.44
2017-03-31 42.35 5.09 26.47
2016-12-31 41.66 4.78 26.34
2016-09-30 41.16 4.55 26.27
2016-06-30 37.12 3.10 25.05
2016-03-31 31.40 2.22 21.58
2015-12-31 26.32 1.39 18.62
2015-09-30 21.01 0.56 17.22
2015-06-30 20.06 1.36 14.03
2015-03-31 19.90 1.67 13.77
2014-12-31 19.39 1.71 13.45
2013-12-31 19.24 2.55 12.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • SmartFinancial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • SmartFinancial used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if SmartFinancial improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess SmartFinancial's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
SmartFinancial has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is SmartFinancial's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of SmartFinancial's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from SmartFinancial Company Filings, last reported 2 months ago.

NasdaqCM:SMBK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 290.48 56.94 132.99
2018-12-31 283.01 63.35 79.12
2018-09-30 251.64 81.27 130.10
2018-06-30 247.49 90.68 170.24
2018-03-31 208.95 45.97 96.71
2017-12-31 205.85 67.65 96.53
2017-09-30 136.59 32.54 84.10
2017-06-30 134.73 22.95 82.84
2017-03-31 132.55 23.21 55.55
2016-12-31 105.24 45.13 53.54
2016-09-30 105.17 67.25 58.59
2016-06-30 103.06 36.97 71.74
2016-03-31 101.99 50.87 68.93
2015-12-31 100.18 62.26 78.93
2015-09-30 98.44 57.72 89.94
2015-06-30 56.12 2.73 43.81
2015-03-31 55.89 21.76 43.65
2014-12-31 55.89 21.76 43.65
2013-12-31 52.83 7.62 79.44
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • SmartFinancial has an acceptable proportion of non-loan assets held.
  • SmartFinancial's liabilities are made up of primarily low risk sources of funding.
  • Loans at SmartFinancial are broadly funded by customer deposits.
  • SmartFinancial's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • SmartFinancial has a sufficient allowance for bad loans.
  • SmartFinancial has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess SmartFinancial's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. SmartFinancial has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is SmartFinancial's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from SmartFinancial dividends. Estimated to be 0% next year.
If you bought $2,000 of SmartFinancial shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate SmartFinancial's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate SmartFinancial's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:SMBK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 479 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2012 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:SMBK Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as SmartFinancial has not reported any payouts.
  • Unable to verify if SmartFinancial's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of SmartFinancial's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as SmartFinancial has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of SmartFinancial's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess SmartFinancial's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can SmartFinancial afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. SmartFinancial has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of SmartFinancial's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Billy Carroll
COMPENSATION $612,171
AGE 49
TENURE AS CEO 3.8 years
CEO Bio

Mr. William Young Carroll, Jr., also known as Billy, serves as the President and Chief Executive Officer at SmartFinancial, Inc. He serves as the Chief Executive Officer and President at SmartBank. He serves as Nashville Branch Director at Federal Reserve Bank of Atlanta. He served as the Chief Executive Officer and President of Cornerstone Bancshares Inc. He began his banking career in 1992 with Citizens National Bank where he held various management positions, including as an Executive Vice President and Chief Financial Officer. He worked for Kraft CPAs in Nashville, Tenn. He has been a Director at SmartFinancial, Inc. since 2010. He has been a Founding Director of SmartBank since its inception. He served as a Director of Citizens National bank. He served as the President of the Sevier County High School Foundation, the Sevier County’s University of the Tennessee Alumni chapter and numerous other local organizations and was a Member of the Sevierville Planning Commission. He is active in the community and served as past President of the Sevier County High School Foundation; President of the Sevier County’s University of the Tennessee Alumni chapter; and numerous other local organizations. He previously served on the Board of the Federal Reserve Bank, Nashville branch. He is a 1990 graduate of the University of Tennessee with a Bachelor’s degree in Business Administration.

CEO Compensation
  • Billy's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Billy's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the SmartFinancial management team in years:

3.6
Average Tenure
50
Average Age
  • The tenure for the SmartFinancial management team is about average.
Management Team

Billy Carroll

TITLE
President
COMPENSATION
$612K
AGE
49
TENURE
3.8 yrs

Ron Gorczynski

TITLE
Chief Financial Officer
AGE
52
TENURE
0.1 yrs

Frank Hughes

TITLE
Executive Vice President of SmartFinancial Investment & Institutional Investor Relations
COMPENSATION
$285K
AGE
59

Jerry Lee

TITLE
Executive VP & CCO
COMPENSATION
$174K
AGE
58
TENURE
9.4 yrs

Felicia Barbee

TITLE
Controller
AGE
46
TENURE
3.3 yrs

Greg Davis

TITLE
Executive VP & Chief Lending Officer of SmartBank
COMPENSATION
$212K
AGE
51

Rhett Jordan

TITLE
Executive VP & Chief Credit Officer of SmartBank
COMPENSATION
$443K
AGE
46

Gary Petty

TITLE
Executive VP & Chief Risk Officer of SmartBank
COMPENSATION
$160K
AGE
43

Kelley Fowler

TITLE
Senior VP and Director of Marketing & Public Relations - SmartBank

Daniel Nichols

TITLE
Senior VP
COMPENSATION
$135K
Board of Directors Tenure

Average tenure and age of the SmartFinancial board of directors in years:

9.4
Average Tenure
61
Average Age
  • The tenure for the SmartFinancial board of directors is about average.
Board of Directors

Miller Welborn

TITLE
Chairman of the Board
COMPENSATION
$405K
AGE
59
TENURE
9.6 yrs

Billy Carroll

TITLE
President
COMPENSATION
$612K
AGE
49
TENURE
9.4 yrs

Bill Carroll

TITLE
Vice Chairman of the Board
COMPENSATION
$1M
AGE
78
TENURE
3.8 yrs

Dave Ogle

TITLE
Lead Director
COMPENSATION
$59K
AGE
60

Vic Barrett

TITLE
Director
COMPENSATION
$68K
AGE
65
TENURE
9.4 yrs

Monique Berke

TITLE
Director
COMPENSATION
$55K
AGE
51
TENURE
5.2 yrs

Geoff Wolpert

TITLE
Director
COMPENSATION
$53K
AGE
62
TENURE
9.4 yrs

Keith Whaley

TITLE
Director
COMPENSATION
$51K
AGE
46
TENURE
9.4 yrs

Ted Miller

TITLE
Director
COMPENSATION
$57K
AGE
73
TENURE
9.4 yrs

Steve Tucker

TITLE
Director
COMPENSATION
$47K
AGE
66
TENURE
1.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by SmartFinancial individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
10. May 19 Buy Monique Berke Individual 09. May 19 09. May 19 3,000 $21.25 $63,744
10. May 19 Buy Monique Berke Individual 09. May 19 09. May 19 1,000 $21.11 $21,110
09. Nov 18 Buy Steven Tucker Individual 08. Nov 18 08. Nov 18 800 $20.89 $16,712
05. Nov 18 Buy Ted Miller Individual 07. Sep 18 07. Sep 18 10,000 $24.35 $243,500
05. Nov 18 Buy Christopher Johnson Individual 02. Nov 18 02. Nov 18 975 $20.43 $19,919
30. Oct 18 Buy Keith Whaley Individual 29. Oct 18 29. Oct 18 2,000 $21.40 $42,746
30. Oct 18 Buy Clifton Miller Individual 29. Oct 18 29. Oct 18 1,680 $21.47 $36,070
08. Sep 18 Sell William Yoder Individual 07. Sep 18 07. Sep 18 -20,000 $24.25 $-485,000
06. Sep 18 Buy J. Wicks Individual 04. Sep 18 04. Sep 18 10,250 $24.74 $253,613
X
Management checks
We assess SmartFinancial's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. SmartFinancial has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Why SmartFinancial, Inc.'s (NASDAQ:SMBK) High P/E Ratio Isn't Necessarily A Bad Thing

Check out our latest analysis for SmartFinancial How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for SmartFinancial: P/E of 14.12 = $20.92 ÷ $1.48 (Based on the trailing twelve months to March 2019.) Is A High P/E Ratio Good? … Hypothetically, a company could reduce its future P/E ratio by spending its cash (or taking on debt) to achieve higher earnings.

Simply Wall St -

Introducing SmartFinancial (NASDAQ:SMBK), A Stock That Climbed 32% In The Last Three Years

There will continue to be wide discrepancies between price and value in the marketplace...' By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … During three years of share price growth, SmartFinancial achieved compound earnings per share growth of 46% per year. … This EPS growth is higher than the 9.6% average annual increase in the share price.

Simply Wall St -

Are Insiders Buying SmartFinancial, Inc. (NASDAQ:SMBK) Stock?

So we'll take a look at whether insiders have been buying or selling shares in SmartFinancial, Inc. … While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. … In the last twelve months there was more buying than selling by SmartFinancial insiders

Simply Wall St -

Do Institutions Own SmartFinancial, Inc. (NASDAQ:SMBK) Shares?

With a market capitalization of US$269m, SmartFinancial is a small cap stock, so it might not be well known by many institutional investors. … Our analysis of the ownership of the company, below, shows that. … institutional investors have bought into the company.

Simply Wall St -

Should We Worry About SmartFinancial, Inc.'s (NASDAQ:SMBK) P/E Ratio?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll look at SmartFinancial, Inc.'s (NASDAQ:SMBK) P/E ratio and reflect on what it tells us about the company's share price. … SmartFinancial has a price to earnings ratio of 19.35, based on the last twelve months.

Simply Wall St -

Update: SmartFinancial Stock Gained30% In The Last Three Years

(NASDAQ:SMBK) share price return of 30% over three years lags the market return in the same period. … SmartFinancial was able to grow its EPS at 20% per year over three years, sending the share price higher. … The average annual share price increase of 9.1% is actually lower than the EPS growth.

Simply Wall St -

Can These Factors Give You An Edge In SmartFinancial, Inc. (NASDAQ:SMBK)?

SmartFinancial, Inc.’s (NASDAQ:SMBK) profitability and risk are largely affected by the underlying economic growth for the region it operates in US given it is a small-cap stock with a market capitalisation of US$269m. … These reforms target bank level regulation and aims to improve the banking sector’s ability to absorb shocks arising from economic stress which could expose financial institutions to vulnerabilities. … Strong management of leverage and liquidity could place the bank in a protected position at the face of macro headwinds.

Simply Wall St -

Have You Considered These Key Risks For SmartFinancial, Inc. (NASDAQ:SMBK)?

Economic growth impacts the stability of salaries and interest rate level which in turn affects borrowers’ demand for, and ability to repay, their loans. … Risk associate with repayment is measured by the level of bad debt which is an expense written off SmartFinancial’s bottom line. … Today I will take you through some bad debt and liability measures to analyse the level of risky assets held by the bank.

Simply Wall St -

Is SmartFinancial Inc's (NASDAQ:SMBK) PE Ratio A Signal To Sell For Investors?

This analysis is intended to introduce important early concepts to people who are starting to invest. … While SMBK might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … I will explain what the P/E ratio is as well as what you should look out for when using it

Simply Wall St -

Will SmartFinancial Inc (NASDAQ:SMBK) Continue To Underperform Its Industry?

Knowing these components could change your view on SMBK’s performance. … Today I will look at how components such as financial leverage can influence ROE which may impact the sustainability of SMBK's returns … View our latest analysis for SmartFinancial

Simply Wall St -

Company Info

Description

SmartFinancial, Inc. operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in Tennessee, Alabama, Florida, and Georgia. The company offers various deposit products, including interest bearing and non-interest bearing checking accounts, savings accounts, money market accounts, individual retirement accounts, and certificates of deposit. It also provides commercial real estate loans, consumer real estate loans, and construction and land development loans; commercial and industrial loans, including commercial, financial, and agricultural loans; and consumer and other loans, such as direct consumer installment loans, overdrafts and other revolving credit loans, and educational loans. In addition, the company offers Internet and mobile banking services. As of December 31, 2018, it operated through 29 full-service branches located in Tennessee, Alabama, and Florida; and 2 loan production offices, 2 mortgage loan production offices, and 2 service centers. SmartFinancial, Inc. is headquartered in Knoxville, Tennessee.

Details
Name: SmartFinancial, Inc.
SMBK
Exchange: NasdaqCM
Founded:
$287,821,301
13,951,590
Website: http://www.smartfinancialinc.com
Address: SmartFinancial, Inc.
5401 Kingston Pike,
Suite 600,
Knoxville,
Tennessee, 37919,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM SMBK Common Stock Nasdaq Capital Market US USD 01. Sep 2015
Number of employees
Current staff
Staff numbers
387
SmartFinancial employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/24 23:47
End of day share price update: 2019/06/24 00:00
Last estimates confirmation: 2019/05/20
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.